Technology and employment. Twelve stylized facts for the digital age

Twelve stylised facts on the relationship between technology and employment are proposed in this paper as a summary of current trends, conceptual issues, methodological approaches and research results. They include the following: (1) technology is shaped by social relations; (2) technology saves human labour; technological unemployment is a serious concern; (3) in the digital age the nature and boundaries of work are changing; (4) different technological strategies have contrasting employment effects; (5) industries differ in their employment dynamics and role of technology; (6) we can see the employment impact of technology at the firm, industry and macroeconomic levels; (7) technological change is a disequilibrium process; demand and structural change matter; (8) business cycles affect technological change and its employment impact; (9) the impact of technology is different across occupations and skills; (10) labour market conditions are relevant, but employment outcomes are not determined in labour markets alone; (11) in emerging countries employment outcomes are jointly affected by technology and catching up; (12) technology is an engine of inequality; profits benefit more than wages, wage disparities increase. They have important policy implications in several areas of public action